Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at California’s $20 minimum wage law. (See the Economy & Finance section.)
Precious Metals:
Despite some profit-taking, the precious metals bull market is looking more solid with every passing week. At last glance, on Thursday evening, 11 April:
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See this April 3rd article, from Bloomberg: Gold Tops $2,300 After Powell Reiterates Rate-Cut Path This Year. JWR’s Comments: In my estimation, the current bull market in metals stems from fears of a Third World War and a weaker Dollar more than from any measly Federal Reserve shifts in interest rates. Take heed: The Fed’s Open Market Committee (FOMC) is now stuck: They cannot substantially raise rates, or they will make it impossible for the US Treasury to service the enormous (and rapidly growing) national debt. And they cannot substantially lower rates, for fear of re-igniting inflation. While they dither, the precious metals bull will begin to pick up speed.
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At Zero Hedge: Gold’s Defiance Of Real Yields Can’t Last Unless Trouble Brewing.
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The Costco Shoppers Putting $2,000 Gold Bars in Their Carts.
And, from CNBC: Costco selling as much as $200 million in gold bars monthly, Wells Fargo estimates.
Economy & Finance:
At the Whatfinger.com news aggregation site: California’s $20 minimum wage law forces small businesses to close and FIRE workers. “Thoughts it was an April fools joke” People with common sense understood this would likely happen…
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A Fox News Interview: Mike Rowe details ‘unintended consequences’ from CA’s $20 minimum wage: ‘Bad look for the governor, Panera’.
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Commodities:
‘Cocoa Could Double From Here’ – Oil-Bull Andurand Gets Greedy On Chocolate.
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How Billionaires Deceive You with Beef!
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From OilPrice News: Bullish Sentiment Has Taken Hold of Oil Markets.
Inflation/Deflation Watch:
Survey: Economists say hot inflation is at risk of lingering until at least 2025.
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At Zero Hedge: People Are Not Inflation Idiots.
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Inflation Back in the Picture as Markets Adapt to Delayed Interest Rate Cuts.
Forex & Cryptos:
Zimbabwe launches new gold-backed currency – ZiG. JWR’s Comment: Unless a “gold-backed” currency is redeemable for gold, on demand, then it is not genuinely gold-backed.
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At Currency Thoughts:
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$100,000 bitcoin price ‘likely’ after $16 billion BlackRock record: analyst.
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1inch Network teams up with Mastercard and Crypto Life to launch 1inch Card.
Tangibles Investing:
According to a trusted friend up in northwest Montana, a small military surplus company in Missouri has proven itself quite reliable and trustworthy: Military Surplus LLC. They have an interesting selection of milsurp ammo cans, field gear, weather filters (including NANO canteen filters), camouflage clothing, optics, et cetera.
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Classic cars shine at ‘Techno-Classica’ – market has calmed down.
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. Thanks!